Kettering Borough Council launches discretionary business grant scheme
Kettering Borough Council will be launching its discretionary business grant scheme on 1st June, having been allocated around £800k of additional funding by the Government to support small businesses.
The new fund is aimed at small businesses that can demonstrate they have suffered a significant fall in income because of the Covid-19 crisis, have relatively high ongoing fixed property-related costs and occupy property, or part of a property, with a rateable value or annual rent or annual mortgage payments below £51,000.
Government allow for three grant levels of £25,000, £10,000 or up to £10,000, but it is up to the local authority to decide how is best to administer the scheme. To try and support the maximum number of eligible businesses across the borough, Kettering Borough Council has set five levels of grants (£25,000, £10,000, £7,500, £5,000, £2,500) which will be directly proportionate to the level of property costs and impact on income due to the Covid-19 crisis.
To be eligible, businesses must have been trading on March 11, 2020 and not been able to access any other Government grant funding (excluding Coronavirus Job Retention Scheme or Self-Employed Income Support Scheme). The following types of businesses will be prioritised:
• Small and micro businesses in shared offices or other flexible workspaces
• Regular market traders who do not have their own business rate assessment
• Bed and Breakfasts which pay council tax instead of business rates
• Charity properties that receive charitable business rates relief, which would otherwise have been eligible for small business rates relief or rural rate relief.
• Hospitality, leisure, retail, culture and creative sectors
• Independently owned manufacturing businesses
Applications for the Local Authority Discretionary Grants Fund must be made by midnight on Sunday 14 June. Once the applications have been received the council will review them.
Cllr Lloyd Bunday, Kettering Borough Council’s Portfolio Holder for Finance, said: “It is vital that we support our small businesses during this difficult time, so I am pleased to open the Discretionary Grants Fund for applications. I encourage any small business owner who is eligible to make an application and access all the help that is available.”